Pumping Money

NEW DELHI, Dec 5 (AFP) – The chairman of Intel, the world’s largest chipmaker, said Monday the company planned to invest more than one billion dollars to expand in India in the next five years, a news report said. NEW DELHI, Dec 5 (AFP) – The chairman of Intel, the world’s largest chipmaker, said Monday the company planned to invest more than one billion dollars to expand in India in the next five years, a news report said. The company plans to invest 800 million dollars in operations in the next five years and set up a 250-million-dollar venture capital fund in the country, the Press Trust of India (PTI) quoted Intel chairman Craig Barrett as saying.

“The investment demonstrates the company’s long-term commitments and builds on the foundation we created during the last 10 years,” Barrett said, according to PTI.

The 800-million-dollar investment will be focussed on its research and development centre in the southern technology hub of Bangalore, with other spending planned on marketing, education and community programmes, Barrett said.

“We will grow our local operations, boost venture capital investment and work closely with the government, industry and educators to increase the impact of the countr